Filing Flows › Willis Lease Finance (WLFC) › Q2 2025
Willis Lease Finance (WLFC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Willis Lease Finance (WLFC) reported revenue of $196M for the second quarter 2025 (Q2 2025), +29% from a year earlier and +24% from the quarter before. Operating margin was 14.5%, net earnings $60.4M (30.9% of revenue).
Willis Lease Finance, Q2 2025: revenue $196M (+29% year over year), operating margin 14.5%, net earnings $60.4M, operating cash flow $104M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $196M | +24% | +29% |
| Operating profit | $28.3M | +18% | -48% |
| Net earnings | $60.4M | +258% | +42% |
| Operating cash flow | $104M | +154% | +49% |
| Free cash flow | $94.5M | +182% | +38% |
What changed
Revenue was $195.5M in Q2 2025, up 29% year over year and up 24% from the previous quarter.
Operating profit was $28.3M, a 14.5% margin (down 21.3 points year over year). Operating profit fell $25.8M even though revenue rose $44.4M versus a year earlier, so costs grew faster than sales. Total costs grew 72% against revenue growth of 29%. The fastest-growing cost line was Sales & marketing (+417%). Net earnings were $60.4M, up 42% year over year. The effective tax rate was 18.7%. Non-operating items added $46.0M, 62% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $104.2M (up 49% year over year), 173% of net earnings. Non-cash charges added back $27.6M of depreciation and amortization and $16.8M of share-based compensation. Capital expenditures of $9.6M left free cash flow of $94.5M.
Questions
What was Willis Lease Finance's revenue in the second quarter 2025?
Willis Lease Finance (WLFC) reported revenue of $196M for the second quarter 2025 (Q2 2025), +29% from a year earlier and +24% from the quarter before.
Was Willis Lease Finance profitable in the second quarter 2025?
Operating profit was $28.3M (14.5% of revenue) and net earnings $60.4M.